Compute the new balance on a credit card assuming that: ? Beginning balance = $450 ? Purchases during the month = $300 ? Payments made within the grace period = $250 ? Interest rate = 18%
A) $550
B) $503
C) $516
D) $1,000
Answer: B
Explanation: B)
Beginning balance $450
Less payment $250
Balance subject to interest $200
Interest ($200 × 0.015) $3
Current month's purchases $300
New balance $503
You might also like to view...
A(n) _____ is a set of indivisible transactions that are either all executed or none are-never only some.
A. long-running transaction B. ready-copy-update transaction C. biometric transaction D. atomic transaction
The salesperson's ________ is a basic force behind how much effort he or she devotes to the job and how he or she responds to different kinds of incentives
A) motivation B) technical knowledge C) honesty D) marketing skills
Listening is about _____ percent of effective communication.
A. 10 B. 25 C. 40 D. 50 E. 75
As presented in the text, ________ reflects the relationship between inputs and output.
A. innovation B. adaptiveness C. quality D. productivity